How much is hot shot truck insurance?

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Getting hot shot truck insurance might seem like a difficult, overwhelming task. There are a lot of questions you might have about it - how do you get hot shot insurance? Where do you even start? How can you get quotes for hot shot insurance - and cheap quotes at that? Our team of transportation insurance experts can help you get the coverage you need to protect your business.

What is a hot shot truck?

A hot shot truck is very similar to a personal pickup truck, but it is heavier duty and can handle hauling larger, heavier loads. They’re usually a half ton to three-quarters of a ton and have a single axle. They may be either a single tire or dual tire.

What are the recommended coverages for a hot shot truck?

Every trucking business is different, so each business will need different coverages to protect them from their risks. However, the following are common coverages that we see for hot shot trucks.

Auto Liability

Auto liability will protect your business by covering expenses that you’re legally obligated to pay to someone if you’re at-fault in a car accident.

Bodily injury liability will cover the medical bills, pain and suffering, and lost wages of someone that you injured in a car accident.

Property damage liability will cover the expenses of replacing or repairing a vehicle (or other property) that you damage in a car accident.

Physical Damage Coverage

Physical damage helps you to get your truck back on the road as soon as possible if it’s involved in an accident or is otherwise damaged.

Collision coverage will help you repair your truck if you’re in a car accident or if you collide with another object.

Comprehensive coverage will help you repair your hot shot if it’s damaged by something other than an accident, such as vandalism, fire, or falling object (like a tree.) It will also cover you if your truck is stolen.

Truckers General Liability

Truckers general liability will help you cover your legal obligations if the services you provide cause someone bodily injury or property damage. It basically covers your out-of-truck time.

Cargo Insurance for Hot Shots

Cargo insurance will help protect the load that you’re hauling against losses like fire, theft, or collision. So, if you get an accident and the cargo that you're transporting gets destroyed, you would be covered.

How much does hot shot truck insurance cost?

There are many factors that affect the cost of hot shot truck insurance. Before deciding whether or not to insure you, an insurance company will look at the details of your business. From there, they will decide how much to charge you for your coverage.

 

Some things that affect the cost of hot shot insurance are...

Drivers

Truck

Number of Trucks

Speeding Tickets

Accidents, Claims, & Losses

Your Type of Business & What You Haul

Your Radius & Location

Understanding why these factors influence your trucking insurance
  • Your drivers: The age, experience, and driving records of your truck drivers can have a great effect on your hot shot insurance rates.
  • Your truck: The year, make, and model of your hot shot will also affect your insurance rates.
  • Speeding tickets: Like accidents, speeding tickets are seen as being an indicator of risk.
  • Accidents/claims: Your loss record, which includes accidents and claims, is a big indicator of risk. If you’re seen as being a larger risk (meaning that you have claims or accidents on your record) you will most likely end up paying more for your insurance.
  • What kind of business you are/What you haul: The insurance company will want to know what kind of business you run and what you’re transporting.
  • Your radius and location: Where you’re trucking is a detail that can have an effect on your insurance rates. 
The only way that you can get an accurate idea of the cost of hot shot truck insurance for your business is to get a quote.

The only way that you can get an accurate idea of how much hot shot insurance will cost for your business is to get hot shot insurance quotes. We can help you find the best rate for your insurance by shopping around and getting multiple quotes for your business. Getting started with your quotes is easy - all you have to do is fill out our online form or give us a call today. We have a team of transportation insurance experts that’s ready to help you with your insurance needs. Our goal is to help trucking businesses like yours save money on your truck insurance and to make insurance easy.